Coface SA (XPAR:COFA)

€ 14.23 0.07 (0.49%) Market Cap: 2.13 Bil Enterprise Value: 3.27 Bil PE Ratio: 10.78 PB Ratio: 1.00 GF Score: 82/100

Q2 2020 Coface SA Earnings Call Transcript

Jul 29, 2020 / 04:00PM GMT

Release Date Price: €6.38 (-0.62%)

Transcript

Operator

Ladies and gentlemen, welcome to the conference call for the presentation of Coface results for the period ending June 30, 2020. (Operator Instructions) As a reminder, this conference call is being recorded. And hosts for today's conference will be Mr. Xavier Durand, CEO; and Varine Pichon, CFO.

I would like to turn the call over to Mr. Xavier Durand. Sir, please begin.

Xavier Pascal Durand

COFACE SA - CEO

Thank you, and good evening for those of you who are in Europe, and I guess good morning if you're in the U.S. We're happy to report today our results for the second quarter of 2020. And as you probably read in documents, we're reporting a profitable second quarter with a net profit of EUR 11.3 million, bringing the total profit for the first half of 2020 to EUR 24 million. We'll go into a lot more detail, but just to highlight on the first page, turnover is down 0.6% at constant FX and perimeter. It's declining a little more in the second quarter at minus 2.1%. That's, I would say, probably moderate despite the fact that a lot of our economies in

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